Pakgen Power Addresses Share Price Surge Reports

Pakgen Power Limited (PKGP) refuted reports circulating on Monday regarding a significant increase in the company’s share prices.

In a formal notification issued to the Pakistan Stock Exchange (PSX) earlier today, the company stated, “We would like to clarify that we are unaware of any specific event or development that could have triggered the unusual movement and rise in the price of the Company’s shares.”

The notice further asserted, “We want to assure you that the Company is fully aware of all relevant legal obligations pertaining to the distribution of important information. Should any significant information concerning the Company’s operations arise, it will be disseminated in accordance with the stipulations outlined in the Securities Act, 2015, and the Rule Book of the Pakistan Stock Exchange Limited.”

Established in Pakistan in 1995, Pakgen Power Limited (PKGP) maintains its registered head office in Lahore. The core business of the power generation firm involves owning, managing, and maintaining a fuel oil-based power plant. This plant has a total capacity of 365 MW and is situated in Mehmood Kot, Muzaffargarh, Punjab, Pakistan.